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Property prices in Dubai ease out in H1 2020

According to the Dubai Land Department, 15,897 sales transactions were recorded in Dubai between January to June 2020

Majid Al Futtaim’s Elan commences construction phase

The construction begins following the sale of 594 total units in phases one and two of Elan, totaling sales value of Dhs900m

Dubai’s Nomad Homes raises $4m in seeding funding

The company is building a managed marketplace for users to search, transact, and finance residential real estate

Dubai buildings

Sheikh Mohammed establishes new committee to ease issuing building permits in Dubai

The committee will list, analyse, revise and develop procedures for providing services related to the issuance of building permits

Dubai Land Department

Land Department launches ‘Invest in Dubai’ virtual platform to connect stakeholders

The virtual platform features stakeholders including developers, investors and brokers

TOPSHOT - A worker wearing a hard hat walks past a mural in Dubai on June 3, 2020. - Shopping malls in Dubai will fully reopen for business on June 3, in the latest easing of COVID-19 coronavirus restrictions, the emirate's media office announced. The step makes the glitzy city-state the first in the Middle East to drop nearly all restrictions to combat the spread of the novel coronavirus that hit retailers and leisure activities. (Photo by Karim SAHIB / AFP) (Photo by KARIM SAHIB/AFP via Getty Images)

Messages from executives: How are regional offices reopening amid Covid-19 concerns?

With regional businesses now allowed to return back to offices, how are they handling the transition?

Dubai

Dubai Developments Group offers tenants rent relief of upto six months

The package is valued at Dhs200m and expected to benefit over 1,500 businesses

Shuaa sees opportunities in Saudi Arabia’s property market

Saudi Arabia’s economy is being battered by a slump in crude prices and from lockdown measures to prevent the spread of Covid-19

New mega urban development project, Masar, launched in Saudi’s Makkah

The project will see the addition of “tens of thousands” of hotel and residential units in Makkah in later phases

Dubai builder ASGC group cuts 15% of its workforce

Almost 2,300 employees, including engineers and project managers, were dismissed this month

Abu Dhabi’s Mubadala weighs selling property assets to Aldar

Mubadala may also dispose of some residential buildings in the United Arab Emirates’ capital

Amlak International announces intent to list on Saudi bourse

The offering will comprise of 27,180,000 ordinary shares

Dubai developer Nakheel reports villa sales worth Dhs223m

Ready-to-occupy, family villas at Nad Al Sheba are particularly in demand

Covid-19 impact on the GCC’s real estate sector: Are there any housing concerns?

How can real estate developers in the GCC adapt to the upheaval that the coronavirus has caused across the region?

Meraas to become part of conglomerate Dubai Holding

The combined conglomerate will operate across real estate, tourism, hospitality, leisure and entertainment and investments

EMPG and OLX Group merge MENA and South Asia operations to form $1bn Dubai-based tech company

With this merger, OLX has become EMPG’s largest single shareholder with 39 per cent of shares

Covid-19 impact on the UAE property sector: When will consumer confidence return?

In a post Covid-19 world, the property sector needs to adapt and re-align to meet customer demands and mitigate the long-term effects of the pandemic

Union Properties’ subsidiary begins legal proceedings to claim Dhs1.5bn

The claim is related to a project completed around a decade ago

Saudi suspends two mortgage-support programmes amid crisis

An interest-free loan programme for military personnel which covers 20 per cent of a property will be suspended from May 31

UAE’s ENBD REIT announces rent relief measures to aid tenants

ENBD REIT would require tenants to provide requisite documents for it to extend adequate rental relief

Abu Dhabi’s Mubadala announces rent deferment for ADGM tenants

This initiative is part of Mubadala’s ‘We Are Dedicated’ campaign, and aims to support commercial tenants

UAE’s Danube Group donates Dhs1m worth of food kits amid virus concerns

Distribution will take place from their warehouse facilities in Dubai, Abu Dhabi, Sharjah, Ajman and Ras Al Khaimah

Dubai developer Nakheel cuts salaries by up to 50%, CEO steps down

The salary cuts range from 30 per cent to 50 per cent for employees earning above Dhs4,000

Dubai World Trade Centre

Dubai’s real estate transactions valued Dhs3.62bn in April 2020

Off-plan transactions constituted 72 per cent of the total deals

Abu Dhabi City United Arab Emirates

Abu Dhabi’s ADQ acquires 100% ownership of National Petroleum Construction Company

ADQ assumed complete ownership of NPCC after acquiring 30 per cent shares previously held by Consolidated Contractors International Company

Discovery Gardens

Dubai Discovery Gardens’ tenants to receive rent deferrals, waivers

Restaurants whose services are restricted to delivery-only are offered a two-month rent-free period for April and May

UAE’s Property Finder goes live with real-time viewings

Live Viewings combines Property Finder’s own technology platforms with YouTube Live to introduce live streaming to the UAE real estate market

UAE’s rental app aims to take landlords entirely online

A new digital dashboard from Urban aims to provide UAE landlords with full oversight into their properties

Dubai Silicon Oasis offers rent waivers, deferred payments to residents, startups and retailers

Existing residential tenants at Dubai Silicon Oasis can now make monthly payments towards their rent

Real estate in Saudi will temporarily slow before growth in the long-term – Savills

Government stimulus packages and previous experience with coronavirus will allow for quick and effective measures to combat slump, says real estate consultancy